As painful as 2024 was for craft brewers, the year seemed to be equally as challenging for the trade group that represents them.
The Brewers Association’s (BA) total revenue declined -8.5%, to $20,972,476 in 2024, according to its annual report, which was published Monday.
Nearly every revenue driver declined year-over-year (YoY) – except for all other revenue, which increased +76.6% – but professional membership dues had the smallest decline at -2.3%, to $3,043,726.
Professional membership dues are the BA’s second largest source of revenue after events, which dwarf it by comparison. Event revenue declined -11.2%, to $12,327,560 last year, a sharp drop following a -2% decline in 2023.
The loss may be partially attributed to the cancellation of Homebrew Con as a standalone event in 2024. A signature event for the American Homebrewers Association (AHA), a BA subsidiary, the social and educational gathering of homebrewers was folded into the BA’s Great American Beer Festival (GABF).
The AHA announced plans to split from the BA in January, which will remove nearly $1 million in revenue from the BA’s coffers. AHA membership revenue declined -15.4%, to $975,231, in 2024. The organization reported $4,268,747 in both professional and homebrewer revenue combined last year, a decline from $4,354,518 in 2022.
With the sunsetting of Homebrew Con, the AHA’s upcoming split and the BA’s permanent cancellation of its food and beer pairing event SAVOR in 2022, the organization’s signature event roster has been cut in half. However, Homebrew Con and SAVOR were much smaller revenue drivers than GABF and Craft Brewers Conference (CBC) and its related BrewExpo America, which are slated for next month in Indianapolis, Indiana. A BA spokesperson told Brewbound CBC attendance is expected to reach 10,000.
Advertising and sponsorship revenue, the BA’s third largest bucket, declined -14.6%, to $2,916,588, in 2024.
The steepest revenue decline was in book and merchandise sales, which is the BA’s smallest source of revenue. It declined -24.1%, to $502,238.
All other revenue recorded the only increase YoY, +76.6%, to $1,207,133. The BA declined to provide context about what is included in all other revenue.
With expenses increasing +1.8% in 2024, to $23,138,414, the BA recorded an operational net loss of -$2,165,938, according to the annual report. This marked a significant decline from 2023’s operational net of $190,028, which itself was a -77% drop from $840,532 in 2022.
While overall expenses increased, the BA spent less in six expense categories in 2024:
- Travel declined -15.6%, to $1,291,611;
- General office and administrative expenses declined -18.2%, to $651,818;
- Marketing declined -14.5%, to $463,932;
- Printing declined -11.7%, to $323,391;
- Cost of goods sold declined -11.5%, to $127,476;
- Donations and grants declined -69.1%, to $66,138.
Expenses increased in nine other categories:
- Salaries and benefits increased +4.6%, to $8,888,935;
- Event operations increased +6.6%, to $5,626,041;
- Outside services increased +1.7%, t $2,692,710;
- Postage and shipping increased +2.6%, to $718,161;
- Rent increased +18.8%, to $617,716;
- Depreciation and amortization increased +5.3%, to $297,591;
- Insurance increased +9.1%, to $213,218;
- Legal fees increased +65.7%, to $56,763;
- All other expenses increased +13.5%, to $1,101,913.
Note the BA restructured its leadership team and eliminated six roles, including three senior management positions, in November.
On its 2024 balance sheet, the BA cited $5,259,384 in cash, a -36.4% decline from 2023. The organization’s reserve increased +10%, to $24,155,323.
Total assets declined -5.8%, to $36,698,156.
In his first annual report address since becoming president and CEO at the beginning of 2025, Bart Watson highlighted work the BA accomplished on behalf of its more than 5,600 members, including government outreach, technical brewing support, data and analysis, and improved education platforms.
“The Brewers Association is here to solve problems you can’t solve yourself as your lobbyist, your market expert and your business and technical advisor,” Watson said. “We like to think of the Brewers Association as the right side of your brewer’s brain.”
The BA cited legislative and regular wins achieved in 2024, including franchise law reform in Wyoming, self-distribution in Delaware and ongoing defense against excise tax increases in several states.